Sun 5th Feb 8:55
SUPPORT GLOSSARY
Glossary
Glossary
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3D Secure |
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3D Secure is a fraud screening initiative that requires the customer to enter a unique password at the checkout stage that has been registered with their issuing bank, thus verifying the cardholder. A fully authenticated transaction of this type cannot be charged back to the merchant if the customer later denies the transaction. |
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AVS (Address Verification Service) |
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AVS (Address Verification Service) allows you to check the cardholder's billing address with their card issuer. A successful AVS result shows that the person placing the order knows the cardholder's address, which is a good indication that they are the true cardholder. An AVS is provided alongside CV2 on all Skypay tariffs. |
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Continuous Authority |
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Continuous Authority applies to merchants who process regular or recurring payments (only available with Visa and MasterCard). |
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CV2 (Card Verification Value) |
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CV2 (Card Verification Value) checks the 3 digit security code found on the signature strip on the back of the customer's card. A successful CV2 result indicates that the person placing the order is likely in possession of the card at the time of the transaction. CV2 checking is provided alongside AVS on all Skypay tariffs. |
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Internet Merchant Account |
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An internet merchant account is a separate bank account with a merchant bank that allows you to accept online payments made by credit and debit cards. |
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MasterCard SecureCode |
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MasterCard SecureCode is a 3DSecure anti-fraud initiative launched by Mastercard to provide a more secure method for authenticating the cardholder at the time of the transaction. The scheme requires the customer to enter a unique password at the checkout stage that has been registered with their issuing bank, thus verifying the cardholder. A fully authenticated transaction cannot be charged back to the merchant if the customer later denies the transaction. |
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Merchant Bank |
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In order to take online payments you'll need to set up a merchant account with a merchant bank. A merchant bank is also sometimes referred to as an "acquiring bank". |
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Shopping Cart |
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A shopping cart is a piece of software that is used to create an ecommerce website. Shopping carts are generally quite easy to use and will allow you to do everything from designing the look and feel of your website, to administering stock and shipping transactions. Skypay is pre-integrated with many of the major shopping carts and if you have already chosen your shopping cart software, please check with the supplier directly to see whether or not it is pre-integrated with Skypay. |
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Verified by Visa |
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Verified by Visa is a 3DSecure anti-fraud initiative launched by Visa to provide a more secure method for authenticating the cardholder at the time of the transaction. The scheme requires the customer to enter a unique password at the checkout stage that has been registered with their issuing bank, thus verifying the cardholder. A fully authenticated transaction cannot be charged back to the merchant if the customer later denies the transaction. |
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